Why are Progressives comparing the PPP loans to the student loans? First I do realize it’s mostly low level white trash and progressive politicians who are making this comparison.
A student loan was a loan to where you sign off that when it’s due, you pay it back. These loans have been paid off by tens of millions.
The government forcibly locked down hairdressers, family restaurants, and other small businesses, and jeopardized the livelihoods of their employees–as well as their access to employer-provided health care. To address this, Congress worked in a bipartisan way to offer Paycheck Protection Program (PPP) loans to help these businesses and their workers stay afloat. As a result, the program supported 51 million jobs to get through the pandemic across the economy.
Anyone who had a small business could qualify for this. So if say Bill Gates of Microsoft started a small business outside of Microsoft, he would have been eligible for forgiveness. Just like the person who say had a catering hot dog stand outside of their state capitol, same thing.
By contrast, President Biden’s student loan giveaway largely benefits the wealthy, forcing this debt onto lower-income American taxpayers in the form of higher taxes and more inflation.
